Latest news with #CessnaCaravans
Business Wire
6 hours ago
- Business
- Business Wire
Surf Air Mobility to Announce Second Quarter 2025 Financial Results on August 12, 2025
LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) ('Surf Air Mobility'), a leading regional air mobility platform, today announced that it will release its second quarter 2025 financial results after market close on Tuesday, August 12, 2025, and will host a webcast at 5:00pm ET the same day. Interested parties can register in advance to listen to the webcast here or can find a link on the 'Events & Presentations' section of our investor relations website. Alternatively, listeners may dial into the call as follows: North America - Toll-Free (800) 715-9871 International (Toll) - (646) 307-1963 Conference ID: 4775356 About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and creating proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry, with the aim to improve safety, efficiency, and profitability.
Time of India
21-07-2025
- Business
- Time of India
Sounds Air slashes Christchurch flights amid soaring costs
Despite high bookings, Sounds Air is reducing two regional services because to "out of control" costs. Beginning at the end of September, the airline will no longer provide flights from Blenheim to Christchurch or Christchurch to Wānaka. Explore courses from Top Institutes in Select a Course Category PGDM CXO Design Thinking Healthcare Project Management Digital Marketing Data Science Cybersecurity MCA Others Leadership Finance Degree Artificial Intelligence Public Policy healthcare Operations Management Management Data Analytics Data Science others Technology MBA Product Management Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details That came after it sold an aircraft and cancelled its routes from Wellington to Westport and Wellington to Taupo in December of last year. Also read: Air New Zealand new uniform, designed by Emilia Wickstead and inspired by Maori story Andrew Crawford, managing director of Sounds Air, said Nine to Noon that the survival of all smaller airlines was in jeopardy due to rising prices, supply chain issues, and a weak New Zealand dollar. Live Events "We've had an additional half a million dollars in annual expenses placed on the company in the last three months, and eventually you have to say enough. "We simply cannot accomplish it," he stated. Rather, the company will concentrate on its primary area services, selling its five Pilatus aircraft and growing its fleet of Cessna Caravans that fly in and around the Cook Strait. Employee shortage blamed Ten employees from the Wānaka and Christchurch locations will lose their employment as a result of the decision. Crawford claimed that even while they were transporting more people than before, they had run out of alternative ways to make the business work, the expenses were extremely high, and it was hard to locate and retain engineers. One of the necessary avionic parts cost $28,000 before COVID, but the company was now spending $70,000 on it. "To make it work, how many seats must be sold on a nine-seat aircraft? It isn't feasible. Also read: Air New Zealand faces backlash over rising airfares He admitted that consumers were already paying more for flights, stating that since COVID, tickets have increased by more than 20% and that an additional 20% increase would still not be sufficient. Loss of over $300k due to air fare price increases He also claimed that the company will lose about $300,000 annually as a result of the Civil Aviation Authority's recent increase in the passenger service charge. "From where should we obtain that? We just must do that to the travelling public. Months after being instructed to apply for the regional infrastructure fund, he said, they had contacted the government multiple times without success and were informed that the company did not fit the requirements. Crawford stated that he was concerned about what would happen to the several area residents who utilised the flights to obtain medical care. Relief for employees priority According to him, the shift was somewhat of a relief because of the tremendous strain on the company, employees, and shareholders. With the company's renewed emphasis on the Cook Strait, he expressed confidence in its future, stating that it was far more sustainable. Also read: Air New Zealand CEO Greg Foran to quit as airline industry faces tough challenge "The figures that we are witnessing are simply astounding. We used to fly in and out of Nelson four times a day; on Friday, I believe we flew twelve. People are flying, there is a need, and maintaining these planes is less expensive.
Business Wire
10-07-2025
- Business
- Business Wire
Surf Air Mobility to Present at the Emerging Growth Conference
LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM), a leading regional air mobility platform, today announced that CEO and COO, Deanna White, and CFO, Oliver Reeves, will present at the Emerging Growth Conference on Thursday, July 17, 2025, at 11:30 AM ET. Participants can register to view the conference here. About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations and On Demand charter services, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and develop proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry to improve safety, efficiency, and profitability.
Business Wire
26-06-2025
- Business
- Business Wire
Surf Air Mobility Announces Closing of $27 Million Registered Direct Offering of Common Stock
LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) (the 'Company'), a leading regional air mobility platform, announced today the closing of its previously announced registered direct offering for the purchase and sale of 10,800,002 shares of common stock (or pre-funded warrants in lieu thereof) at a purchase price of $2.50 per share (or pre-funded warrant in lieu thereof). H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The gross proceeds to the Company from the offering were approximately $27 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering to pay down certain indebtedness and for general corporate purposes. The securities offered in the registered direct offering were offered and sold by the Company pursuant to a 'shelf' registration statement on Form S-3 (Registration No. 333-284845), including a base prospectus, previously filed with the Securities and Exchange Commission (the 'SEC') on February 11, 2025 and declared effective by the SEC on March 26, 2025. The offering of the securities issued in the offering was made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the offering was filed with the SEC and is available on the SEC's website located at Electronic copies of the final prospectus supplement and accompanying base prospectus may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@ About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and creating proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry, with the aim to improve safety, efficiency, and profitability. Forward-Looking Statements This Press Release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding the intended use of proceeds from the offering. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of Surf Air Mobility's management as well as assumptions made by and information currently available to Surf Air Mobility and reflect Surf Air Mobility's current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: the intended use of proceeds from the offering, Surf Air Mobility's future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; Surf Air Mobility's limited operating history and that Surf Air Mobility has not yet commercialized software platforms for third-party sales or manufactured any hybrid-electric or fully-electric aircraft; Surf Air Mobility's failure to realize the expected return on its significant investment in SurfOS due to development delays, technical challenges, or lack of market acceptance; the powertrain technology Surf Air Mobility plans to develop does not yet exist; any accidents or incidents involving hybrid-electric or fully-electric aircraft; the inability to accurately forecast demand for products and manage product inventory in an effective and efficient manner; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air Mobility's development of hybrid-electric and fully-electric powertrains and its advanced air mobility software platform, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air Mobility's growth; the inability of Surf Air Mobility's customers to pay for Surf Air Mobility's services; the inability of Surf Air Mobility to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air, Southern or Surf Air Mobility, the risks associated with Surf Air Mobility's obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that Surf Air Mobility files with the SEC, and investors are urged to review those periodic reports and Surf Air Mobility's other filings with the SEC, which are accessible on the SEC's website at before making an investment decision. Surf Air Mobility assumes no obligation to update its forward-looking statements except as required by law.
Yahoo
25-06-2025
- Business
- Yahoo
Surf Air Mobility Announces $27 Million Registered Direct Offering of Common Stock
LOS ANGELES, June 25, 2025--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) (the "Company"), a leading regional air mobility platform, announced today that it has entered into definitive agreements for the purchase and sale of 10,800,002 shares of common stock (or pre-funded warrants in lieu thereof) at a purchase price of $2.50 per share (or pre-funded warrant in lieu thereof) in a registered direct offering. The offering is expected to close on or about June 26, 2025, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from the offering are expected to be approximately $27 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering to pay down certain indebtedness and for general corporate purposes. The securities offered in the registered direct offering are being offered and sold by the Company pursuant to a "shelf" registration statement on Form S-3 (Registration No. 333-284845), including a base prospectus, previously filed with the Securities and Exchange Commission (the "SEC") on February 11, 2025 and declared effective by the SEC on March 26, 2025. The offering of the securities to be issued in the offering are being made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website located at Electronic copies of the final prospectus supplement and accompanying base prospectus may also be obtained, when available, by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@ About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and creating proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry, with the aim to improve safety, efficiency, and profitability. Forward-Looking Statements This Press Release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding the completion of the offering, the satisfaction of customary closing conditions related to the offering, and the intended use of proceeds from the offering. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of Surf Air Mobility's management as well as assumptions made by and information currently available to Surf Air Mobility and reflect Surf Air Mobility's current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: the completion of the offering, the satisfaction of customary closing conditions related to the offering, the intended use of proceeds from the offering, Surf Air Mobility's future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; Surf Air Mobility's limited operating history and that Surf Air Mobility has not yet commercialized software platforms for third-party sales or manufactured any hybrid-electric or fully-electric aircraft; Surf Air Mobility's failure to realize the expected return on its significant investment in SurfOS due to development delays, technical challenges, or lack of market acceptance; the powertrain technology Surf Air Mobility plans to develop does not yet exist; any accidents or incidents involving hybrid-electric or fully-electric aircraft; the inability to accurately forecast demand for products and manage product inventory in an effective and efficient manner; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air Mobility's development of hybrid-electric and fully-electric powertrains and its advanced air mobility software platform, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air Mobility's growth; the inability of Surf Air Mobility's customers to pay for Surf Air Mobility's services; the inability of Surf Air Mobility to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air, Southern or Surf Air Mobility, the risks associated with Surf Air Mobility's obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that Surf Air Mobility files with the SEC, and investors are urged to review those periodic reports and Surf Air Mobility's other filings with the SEC, which are accessible on the SEC's website at before making an investment decision. Surf Air Mobility assumes no obligation to update its forward-looking statements except as required by law. View source version on Contacts For Press:press@ For Investors:investors@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
